Partly Cloudy

Partly Cloudy

max temp: 9°C

min temp: 5°C


Ipswich Building Society lifts standard variable interest rates

PUBLISHED: 14:53 03 January 2018

Richard Norrington, chief executive of Ipswich Building Society.

Richard Norrington, chief executive of Ipswich Building Society.


Ipswich Building Society has made changes to its savings and mortgage rates following the Bank of England’s move in November to lift its base rate by 0.25% to 0.5%.

The society’s standard variable rate for mortgages has increased from 5.24% to 5.49%, with effect from January 1 − reversing a reduction applied on October 1, 2016.

Its variable rate savings products have been individually reviewed, but with increases effective from the same date.

Richard Norrington, chief executive, said: “Ipswich Building Society operates a simple business model, balancing the money we take in from savers and that which we lend out to borrowers.

“Following the Bank of England’s announcement in November, we are implementing changes to our savings and mortgage rates in order to equally balance the interests of our members.

“We continue to support members with savings goals along with those who may wish to buy a home or remortgage but find themselves ‘mortgage misfits’, left out by the automated lenders. By using our personal approach to underwriting we are able to offer choice while retaining a diligent approach to lending.”

The trial of an Ipswich man accused of sexually assaulting two teenage boys will reopen in June.

Key speakers at a Suffolk march taking place on a nationwide day of “pro-EU” action have been announced including politicians, campaigners and experts in science and law.

An Ipswich sixth form has become a “beacon of excellence” in creative subjects, a top teacher has said.

Primark has recalled a range of cushions after they were found to be a possible fire risk.

The Easter break is almost here which means thousands of teenagers will have their heads down revising. Here are four ways to get the most out of your revision sessions.

A fresh round of snow could fall at Easter according to experts – just when hopes were high that the wintry weather swept in by the Beast from the East had run its course.

Drivers in Suffolk are being warned they may face delays on Friday as police escort an abnormal load through the county.

Talented Suffolk choristers enjoyed a taste of stardom as they took to the big stage at Wembley Arena to perform.

In 1982 the Fire Brigade moved to a new fire station in Princes Street, Ipswich.

Looking for something interesting to do in the Ipswich area this weekend? There’s plenty of choice.

Most read

Show Job Lists

Topic pages

Newsletter Sign Up

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24